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The most recent recession was in 2020 and only lasted a couple of months, whereas the 2008 recession lasted about 18 months. How much debt do I have (creditcards, student loans, car loans, mortgages, etc.)? What is a recession? A recession is a period of economic downturn spread over time, usually a few months to a few years.
My new career was straight commission—zero salary. The “down” escalator is racking up debt on high-interest rate creditcards , going into debt to buy things you don’t need, taking out payday loans, and borrowing money to invest in things that can go down in value. That first year, I made $50,000. Photo by @AniaLu/Twenty20.
It was accepting creditcards, it was doing things in a different way where the customer were able to see the benefit of doing business with my business versus another business. Let’s leverage a financing arm, let’s leverage creditcard, let’s leverage all these other things and make it easy and flexible.
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